Premium brand 20-a-day smokers could save up to £2,900 in 2013

This New Year, the Money Advice Service urges smokers to try its free, online Cut-back calculator to instantly reveal how much cash they could save if they cut back or quit smoking - extra cash which could work hard in a savings account such as an ISA or a pension.

The cost of smoking today means that a 20-a-day habit costs between £2,300 and £2,900 a year, so smokers' savings pots are seriously suffering as a result. For example, over a year, a 20-a-day smoker of ‘premium' cigarette brands (average £8.00 per pack) could save over £2,900; the same smoker buying ‘value' cigarettes (average £6.30 per pack) could save around £2,300.

Karen Broughton, Director of Service Delivery at the Money Advice Service commented: "Cigarettes can really burn a hole in your household budget, but smokers who cut back or quit completely in 2013 will see real difference in their pocket straightaway. Let us help you get your money into shape in 2013. Try our cutback calculator now to see how much cash you could save by quitting smoking, or making other changes to your spending in 2013 - you'll be amazed how much daily costs add up over time."